Bank of New York Mellon Corp Purchases Shares of 312,485 Starz Entertainment Corp. $STRZ

Key Points

• Bank of New York Mellon purchased 312,485 Starz Entertainment shares worth approximately $9.0 million, representing about 1.87% of the company. Other institutional investors also increased or initiated positions.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $31.50 price target. Ratings range from Strong Buy to Sell.
• Starz reported a significant quarterly EPS miss, posting a loss of $11.27 per share versus an expected loss of $0.59, while revenue reached $307.9 million. The stock opened at $26.90, up 1.4%.

Bank of New York Mellon Corp purchased a new stake in shares of Starz Entertainment Corp. (NASDAQ:STRZ - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 312,485 shares of the company's stock, valued at approximately $9,018,000. Bank of New York Mellon Corp owned about 1.87% of Starz Entertainment at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STRZ. Renaissance Technologies LLC bought a new position in shares of Starz Entertainment during the 1st quarter valued at about $577,000. NewEdge Wealth LLC grew its position in Starz Entertainment by 15.5% in the fourth quarter. NewEdge Wealth LLC now owns 710,862 shares of the company's stock worth $8,317,000 after buying an additional 95,245 shares during the last quarter. Strs Ohio increased its holdings in shares of Starz Entertainment by 1,955.5% in the fourth quarter. Strs Ohio now owns 45,900 shares of the company's stock valued at $537,000 after buying an additional 43,667 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Starz Entertainment by 109.7% in the fourth quarter. Hsbc Holdings PLC now owns 36,504 shares of the company's stock valued at $428,000 after buying an additional 19,096 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of Starz Entertainment by 21.5% during the 4th quarter. Royce & Associates LP now owns 440,645 shares of the company's stock valued at $5,156,000 after acquiring an additional 78,000 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STRZ shares. Robert W. Baird set a $30.00 price objective on Starz Entertainment and gave the stock an "outperform" rating in a research note on Monday, May 11th. Wall Street Zen downgraded Starz Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Morgan Stanley set a $30.00 price objective on shares of Starz Entertainment in a research note on Monday, August 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Starz Entertainment in a research report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $30.00 price objective on shares of Starz Entertainment in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.50.

Starz Entertainment Trading Up 1.4%

Starz Entertainment stock opened at $26.90 on Thursday. Starz Entertainment Corp. has a 12 month low of $8.40 and a 12 month high of $32.58. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.05. The stock has a market cap of $460.53 million, a P/E ratio of -1.06 and a beta of 2.44. The company's fifty day simple moving average is $27.05 and its 200-day simple moving average is $21.16.

Starz Entertainment (NASDAQ:STRZ - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($11.27) EPS for the quarter, missing the consensus estimate of ($0.59) by ($10.68). The business had revenue of $307.90 million for the quarter. Starz Entertainment had a negative return on equity of 25.64% and a negative net margin of 33.98%. As a group, sell-side analysts forecast that Starz Entertainment Corp. will post -6.12 EPS for the current fiscal year.

Insider Buying and Selling at Starz Entertainment

In other news, CEO Jeffrey Hirsch acquired 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $24.80 per share, with a total value of $248,000.00. Following the acquisition, the chief executive officer owned 65,000 shares in the company, valued at approximately $1,612,000. This represents a 18.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James M. Kapenstein purchased 1,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $25.73 per share, for a total transaction of $25,730.00. Following the completion of the transaction, the insider owned 12,302 shares of the company's stock, valued at $316,530.46. The trade was a 8.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 22.62% of the stock is currently owned by corporate insiders.

Starz Entertainment Company Profile

Starz Entertainment NASDAQ: STRZ is a global media and entertainment company that operates premium subscription video services across linear television and digital streaming platforms. The company's core offering includes the STARZ and STARZ ENCORE linear networks in the United States, alongside its STARZPLAY streaming service, which is available in North America, parts of Europe, Latin America and select Asian markets. Through its multi-platform distribution strategy, Starz delivers a combination of original programming, feature films and licensed series to a broad subscriber base.

At the heart of Starz Entertainment's business is its investment in original content production.

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